Stellus Capital Investment Corporation is a business development company specializing in investments in private middle-market companies. It invests through first lien, second lien, unitranche, and mezzanine debt financing, often with a corresponding equity investment. The fund seeks to invest in companies with an EBITDA between $5 million and $50 million.
4400 Post Oak Parkway
Houston, TX 77027
Founded in 2012
Stellus Capital Investment Corporation Declares Dividend for the Month of October, November and December, Payable on November 15, 2016, December 15, 2016 and January 1, 2017
Oct 7 16
Stellus Capital Investment Corporation Board of Directors declared a regular monthly dividend for each of October, November and December for an aggregate of $0.34 per share. The dividends will be paid on November 15, 2016, December 15, 2016 and January 1, 2017 with the record dates of October 31, 2016, November 30, 2016 and December 30, 2016. Ex-dividend dates are October 27, 2016, November 28, 2016 and December 28, 2016.
Stellus Capital Investment Corporation Enter into Fourth Amendment to Senior Secured Revolving Credit Agreement
Sep 2 16
Stellus Capital Investment Corporation entered into a Fourth Amendment to Senior Secured Revolving Credit Agreement (the “Amendment”), by and among the company, SunTrust Bank, as a lender and the administrative agent, and the lenders named therein. The Amendment amends the company’s Senior Secured Revolving Credit Agreement dated as of November 13, 2012. The amendment modifies one of the conditions that the company must satisfy before each draw under the credit facility. Under the existing credit facility, the company is effectively prohibited from increasing its borrowings under the existing credit facility unless, after giving effect to a proposed borrowing, the company has an asset coverage ratio equal to or exceeding 2.25 to 1. The amendment permits the company to also borrow under the credit facility if, after giving effect to the borrowing, the company has an asset coverage ratio equal to or exceeding 2.20 to 1 (but less than 2.25 to 1) and certain other financial-condition and liquidity metrics are satisfied at the time of such incurrence, including relating to the percentage of PIK interest received for the prior quarter; the percentage of non-accrual investments at the time of such draw; and the percentage of liquid assets held by the company at such time (if the company is already 80% drawn under the credit facility at the time of the proposed draw).
Stellus Capital Investment Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
Aug 5 16
Stellus Capital Investment Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported interest income of $9,328,416 compared to $8,635,047 a year ago. Total investment income was $9,623,169 compared to $8,690,462 a year ago. Net investment income was $3,945,102 or $0.32 per share compared to $3,995,487 or $0.32 per share a year ago. Net increase in net assets resulting from operations was $5,029,920 or $0.41 per share compared to $4,000,993 or $0.32 per share a year ago. Distributions per share were $0.34 compared to $0.34 a year ago.
For the six months period, the company reported interest income of $18,703,153 compared to $17,266,343 a year ago. Total investment income was $19,091,002 compared to $17,404,553 a year ago. Net investment income was $8,044,392 or $0.64 per share compared to $7,838,902 or $0.63 per share a year ago. Net increase in net assets resulting from operations was $7,553,769 or $0.61 per share compared to $9,394,367 or $0.71 per share a year ago. Distributions per share were $0.68 compared to $0.68 a year ago. Net cash provided by operating activities was $7,942,776 compared to $2,579,086 a year ago. Net asset value per share as of June 30, 2016 was $13.12.